Bessie Liu

Crypto investment platform Republic will list its profit-sharing digital asset, the Republic Note, on the Avalanche Blockchain via the US-regulated trading platform INX.



The Note listing will be available to KYC’ed non-accredited and accredited investors worldwide on Dec. 6.



According to David Shack, the head of marketing at Republic, the Republic Note is backed by over 750 private companies and assets in Republic&#8217;s portfolio, including SpaceX, Dapper Labs and Klarna, just to name a few.&nbsp;



“This means that companies that have raised capital on Republic&#8217;s retail investment platform or from Republic Capital (our venture arm) become part of the Note portfolio,” Shack said.&nbsp;



Any users who purchase the Republic Note are entitled to hold a share of the dividend pool that grows when a Republic portfolio company has a profitable exit event.&nbsp;



Aside from financial incentives, Republic Note holders will also have access to community benefits, Shack said.



“Earlier this month, we held a Note-gated community-only event at Republic&#8217;s NYC HQ office, and there are plans for other Note-gated experiences at events like SXSW, ETH Denver, etc,” he said.



The Note has received over $30 million in pre-sale participation from early investors and users, including Naspers, Binance, and the Avalanche Foundation&#8217;s Vista program. Beyond the pre-sale round, an open round with limited availabilities was also open to early Republic users, where an estimated 5,000 investors have already participated.&nbsp;



<h2 class="wp-block-heading">What’s next?</h2>



Shack explains that its decision to launch the Republic Note on Avalanche is aligned with the company’s technical strategy, noting that the company continues to hold a close relationship with Algorand, but Avalanche’s flexibility and customization were necessary for taking the Note to the “next phase of growth” — including a specified subnet that is planned for next year.&nbsp;



“This step was focused on enhancing the asset&#8217;s scalability as the global community of Note-holders grows and its adaptability to and compliance with a dynamic regulatory environment,” he said.



The Note will be the blueprint for Republic as it continues to look into providing ways for companies and institutions to integrate blockchain technology into their business models, Shack explains.



“Republic has always been committed to unlocking private markets, making them accessible to everyone, everywhere,” he said.



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Avalanche

Republic lists profit-sharing digital security on Avalanche

James Cirrone

Financial services company Republic debuted its own self-custody digital wallet Thursday, which will be integrated into its retail crypto investing platform.&nbsp;



According to Republic, users will no longer have to create their own third-party wallets to manage their crypto holdings or participate in token drops on the platform. Instead, they can rely on Republic’s multi-chain, multisignature wallet which will have “one unified interface.”



The wallet, which has been in development for over a year, is supported on Ethereum, Circle&#8217;s USDC, and Algorand. Republic said that it plans to add compatibility with <a href="https://blockworks.co/tag/bitcoin">Bitcoin</a>, Avalanche, Polygon and others in the future, according to a press release provided to Blockworks.



Republic also allows its 3 million members to invest not just in digital assets themselves, but also tokenized securities and tokenized real world assets such as art, music or real estate.&nbsp;



Andrew Durgee, Head of Republic Crypto, said that assets like these are usually off limits to most normal people looking to invest in the market. He thinks tokenization is the answer.



“For millions of global retail investors, investing in private assets like startups, real estate, and fine art is opaque, highly illiquid, and mostly inaccessible,” Durgee said in a statement.&nbsp;



He continued, “Tokenization solves all of these problems. It’s why we built Republic Wallet.”



Republic has facilitated the funding of 15 separate crypto projects. Among them is LimeWire, an early 2000s website chiefly known for music piracy, that is attempting a comeback as a Web3 creator platform.&nbsp;



And if crypto isn’t something a user wants to add to their portfolio, there’s also the option to invest in private startups, real estate, and a number of other opportunities that aren’t specifically blockchain oriented.



For the crypto minded among Republic’s customers, they’ll eventually be able to stake their crypto through the newly-minted digital wallet and earn rewards via the company’s validators on <a href="https://blockworks.co/tag/ethereum">Ethereum</a>, Avalanche, Polygon, Aptos and more.



Republic informed Blockworks that while their wallet utilizes multi-signature technology, it also intends to integrate multi-party computation (MPC). Initially, MPC will be an additional method for users to recover their seed phrases, while the primary function of multisig will be to ensure the security of transaction signing.



A full-scale adoption of MPC will occur once the wallet team runs a full set of audits on the MPC architecture, Republic told Blockworks.



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multichain

Republic’s new multi-chain wallet is tailored for tokenized assets

Casey Wagner

<div id="highlights-block_6238c8abaa785" class="highlights">
 <ul>
 <li>Galaxy Digital, Republic Crypto and Alameda Research have teamed up to launch an investment consortium that will bring players in the traditional video game space into Web3</li>
 <li>Developers need to understand the economics and business model behind tokenization to monetize it, executives say</li>
 </ul>
 
</div>



As interest in play-to-earn gaming increases, a group of digital asset veterans is partnering up to tackle the intersection of crypto and gaming in a new way.



Alameda Research, Galaxy Digital and Republic Crypto have teamed up to launch an investment consortium that will focus on bringing traditional gaming studios and developers to Web3.&nbsp;



“As the technology that powers the creation and enjoyment of video games continues to evolve, so do the business models by which games monetize,” said Sam Englebardt, the co-founder and partner at Galaxy Digital and founding general partner of Galaxy Interactive. “But a few things will remain constant and fundamental to the enduring success of a game – the quality of the gameplay and the creative vision of the game developers.”&nbsp;



The consortium, called NG+, will invest in players in the traditional video game industry to help with token liquidity.&nbsp;



As the <a href="https://cms.blockworks.co/?s=gamefi" target="_blank" rel="noreferrer noopener">gaming industry</a> continues to lean into blockchain-based solutions and revenue, token economics is an area of need, executives say.&nbsp;



“The creative talent in gaming right now is at an all-time high, yet the most experienced developers are reluctant to build crypto games because of the near-term speculation that the first inning of play-to-earn content has exhibited,” said Richard Kim, the general partner at Galaxy Interactive, the venture arm of Galaxy Digital.



NG+ hopes to ensure that experienced game developers have the support they need to enter Web3, Englebardt said.



“What most crypto games to date are missing is the ability to convert and retain a large base of payers,” Kim said. “Too much of the narrative has focused on ‘play to earn,’ without considering where the sustainable demand to soak up all of the token supply would come from.”



The trend is causing a decline in in-game token prices. Kim pointed to <a href="https://axieinfinity.com" target="_blank" rel="noreferrer noopener">Axie Infinity</a>’s in-game digital currency, SLP, which has crashed from nearly $0.40 in April 2021 to around $0.02 more recently.



“The narrative is now shifting to ‘play and earn,’ but I find this to be a disingenuous formulation, as it again ignores the payer side of the equation, while disguising the underlying economic activity as play…rather than work,” Kim said.



Real sustainability will be driven by “pay-to-win-to-win” models, where a defined player base is willing to pay for tokens to apply their skills in the hopes of earning a bigger share of the network’s rewards, Kim said. Giving players free tokens to start might be the best way to build this demand, he added.



“One of the best ways to get value is to give value first,” Kim said. “I am particularly bullish on midcore games with pre-existing but churned player bases, that can be airdropped tokens for their participation in [version 1] of the game, to be reincarnated in a [version 2] that is token-based.”&nbsp;



NG+ has already taken on its first three participants: GreenPark Sports, a metaverse sports and esports platform; Delysium, a player-owned blockchain game; and Mirror World, a game based on a digital model of real-world structures.



In the partnership, Galaxy will be responsible for sourcing gaming studios, Alameda Research will focus on providing sufficient accessibility and liquidity for the gaming projects’ token-based economies, and Republic Crypto will help guide consortium participants through token economic design and tokenization prior to an exchange listing.



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